According to the analysis, global billionaire wealth surged by $314 billion total in January, which is “more than the combined wealth of the 2.8 billion people who make up the poorest third of humanity.”

“Extreme wealth isn’t just growing—it’s accelerating at breakneck speed, putting more and more power into the hands of a tiny few,” said economist Jayati Ghosh, a member of the Independent Commission for the Reform of International Corporate Taxation. “Failure to act enables more unchecked greed and deepening disparities, allowing oligarchs to expand their vast fortunes and further extend their power over the rest of the world.”